Lorenzo Simonelli, CEO of General Electric’s oil and gas business, visited Iran to explore business opportunities in the country.
Simonelli ended his Tehran visit on Monday (February 15), according to a report by Wall Street Journal.
“In line with the easing of sanctions, we have begun looking at potential business opportunities in Iran, while fully complying with the rules laid out by the U.S. government,” a GE spokeswoman said.
In spite of removal of anti-Iran sanctions in January, Washington still does not allow US companies to trade with Iran, unless it is through a foreign subsidiary.
London based GE Oil & Gas, which manufactures oil drilling and processing equipment, is a subsidiary of its American parent company.
Announcement of Implementation Day of the July deal known as the Joint Comprehensive Plan of Action (JCPOA) has been on January 16 as the anti-Iran sanctions were lifted.
Source: IRNA- Date: (16 February 2016)